There is rumour that Tesla Motors Inc (NASDAQ:TSLA) is eyeing on Hutto for its projected battery factory. It is expected that manufacturing facility will be so huge that it’s called a gigafactory.
Tech giant is planning for building a 10 million square foot facility on 500 to 1,000 acres to make batteries. Almost 6,500 employees will be hired with average pay of $460,000. And it is expected that almost half a million batteries per year will be manufactured by Tesla in this facility.
The final decision will came to surface by the end of this month that whether electric car maker will build this facility or not. According to Hutto Chamber of Commerce President Tom Britton, they have plenty of space for building a large manufacturing plant with huge cooperation of big companies but does not confirmed this deal.
In second news, Federal Home Loan Mortgage Association (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) got an edge over Tesla and Netflix. In the past 14 months, Tesla is up 635% and Netflix, Inc. (NASDAQ:NFLX) is up 386%. But infront of Freddie Mac and the Fannie Mae, both companies look dawdlers as Fannie Mae is boosted an surprising 1,724% and Freddie Mac jumped to1,626% since January 1 of last year.
From monetary organizations, these companies acquire in compliance mortgages, enclose those mortgages, and then put up for sale to shareholders. These are the main objectives for which they are created by the federal government.
After the monetary calamity half a decade ago, the Federal Housing Finance Agency (FHFA) ranked both of them into a conservatorship. Fannie Mae and Freddie Mac are kept breathing by the US taxpayer who spent over $187 billion since September 2008. For several months, Bruce Berkowitz’s Fairholme Funds is trying to capture both companies but government is not ready to sell them now.